On 4 January 2024, the Ministry of Economy and Finance issued a notification 001 on the continued exemption, relief, and suspension of tax applicable in real estate sector.
I. Stamp Duty Tax on the Transfer of Ownership or Possessory Rights of Immovable Property
II. Capital Gain Tax
Continuation on the delay implementation of six types of capital gains taxes, including immovable property, lease agreement, investment assets, goodwill, intellectual property and foreign currency until the end of 2024.
III. Immovable Property Tax
For immovable property that has been registered and declared a property tax previously, with inaccurate value of land or construction, size of property or type of construction or/and the construction timeframe, is exempted from the tax re-assessment, including administrative penalties (additional tax and interest) from the year of tax implementation until 2023. From 2024 onwards, it shall implement based on the laws and regulations in force.
IV. Unused Land Tax
The unused-land tax has been suspended until the end of 2024, meaning that the owner or the occupant or final beneficiary has no obligation to declare the tax until the end of 2024.
Advance Grand Formula Co., Ltd is licensed audit firm from Accounting and Auditing Regulator (ACAR Decision N0. 014), member audit firm of Kampuchea Institute of Certified Public Accountants and Auditors (license number C-00085) and tax agent from General Department of Taxation (license number TA202204002).
This Publication is intended for general guidance only and should not form the basic of specific decisions.
Should you need any further information or support, please contact us at: firstname.lastname@example.org (accounting), email@example.com (audit), firstname.lastname@example.org (tax) and number and telegram 085 36 8888 and 070 399 888.